ORLANDO, Florida, June 26 - As President Joe Biden and former President Donald Trump prepare to face off in the first of the 2024 presidential debates, the gulf between Americans' downbeat view of the U.S. economy and its general healthy well-being could not be wider.
So why is Wall Street's view not shared by Main Street? Surveys consistently show Americans are pessimistic on the economy at large, and a Reuters/IPSOS poll this week showed Trump beats Biden 43% to 37% on who has a better approach for the economy. "It's that one-two punch of high price levels from the burst of inflation, and misinformation," she adds.The effect of 'higher-for-longer' inflation on people's perceptions cannot be overstated.
Minneapolis Fed President Neel Kashkari told the Financial Times earlier this month that he's hearing increasing anecdotal evidence that people would rather have a recession than high inflation - if they lose their job, they can get help from friends or family, but everyone is affected by inflation. Asked who or what is to blame for current inflation, the replies were instructive. Republicans were twice as likely than Democrats to blame"Biden and the administration,""Monetary policy" and"Fiscal policy," with 41% of Republicans citing these three factors, versus Democrats' combined 21%.Yet although inflation is still above the Fed's 2% goal, it is not far off it.
A recent Gallup poll, opens new tab showed a slight uptick in the"Personal Financial Situation Index" last year, in how people felt versus a year earlier and how they see themselves in a year's time.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »